Family firms ‘backbone of economy’

FAMILY-OWNED enterprises form the backbone of the economy and deserve greater specialised attention from government agencies, according to UCC president Professor Gerard T Wrixon.

Speaking at the inaugural family business conference organised by the John C Kelleher Family Business Centre at UCC, Prof Wrixon said greater effort in supporting family-owned enterprises, and encouraging their sustained development through harnessing the efforts of organisations like Enterprise Ireland is required.

Mr Wrixon said that historically family business has not had a very high profile in Ireland, with government policy and national investment emphasis on encouraging multinational involvement in the country.